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Transelectrica's H1 net profit at 28 ml RON, down 73 pct

transelectrica

National electricity transmission company Transelectrica posted a net profit of 28 million RON in H1, down 73 percent compared to the same period last year, according to the half-yearly report sent to the Bucharest Stock Exchange on Friday.

January-June 2022 total operating revenues were 83 percent higher year-over-year, at 2.6 billion RON, mainly due to the increase in the average transmission tariff, the rise in interconnection revenues, as well as in the revenues achieved on the balancing market.

"The current situation of prices on the wholesale electricity market is fundamentally different from the situation in H1 2021, strongly influenced by the increase in electricity prices. Against the international background of the energy market, the day-ahead centralized markets organized by the Electricity Exchanges have recorded unprecedented historical prices," the company said.

The net domestic energy consumption between January - June 2022 dropped 5 percent and net production decreased 8 percent compared to the same period of the previous year.

As for the production mix in H1 2022, the nuclear component dipped 2 percent year-over-year, the hydro component was 28 percent down, while the thermal component was 2 percent up and the renewables component increased 13 percent.

Transelectrica manages and operates a network of over 9,000 kilometers of high-voltage overhead power lines (400 kV, 220 kV and 110 kV) and 81 electrical transformer stations throughout the country.

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